Date: 31 October 2017
Founded in 1990, AIG is a leading fabricator and distributor of glass products in the Southeast U.S. With manufacturing facilities in Georgia and Florida, AIG specializes in providing insulated, tempered, laminated, and beveled glass to millworkers and glazing contractors serving the residential and commercial end markets.
The company also distributes a full line of mirrors and wholesale glass products. The transaction will position AIG for its next stage of growth, including expanding its geographic coverage and service capabilities – both organically and via acquisition.
AIG will continue to be led by its current management team including Chief Executive Officer Billy Blair. Founder Rick Freeman will remain involved in the strategic direction of the company as a significant shareholder and active board member.
Rick Freeman, Founder of AIG, said, “I am very proud of the company and reputation we have built over the past 27 years. Our dedicated employees have been key to establishing AIG’s tradition of providing excellent service to our customers. The AV Capital team shares our relationship-oriented approach to doing business, and has a genuine appreciation for our culture and the values that have driven our success. I am excited for the next phase of AIG’s growth.”
Billy Blair, Chief Executive Officer of AIG, remarked, “AIG was built on a commitment to exceeding the industry standard for our customers. That means ensuring we maintain high product quality with faster lead times and on-time delivery. AV Capital’s experience will help us maintain this commitment while creating new opportunities to grow our business through expanding our product capabilities, plant capacity, and geographic footprint across the Southeast U.S.”
Vernon Bryant, Managing Partner of AV Capital, said, “We are excited to announce this new platform investment for AV Capital. AIG is an impressive company that fits squarely within AV Capital’s strategy of partnering with talented management teams to transition well-run middle market companies to institutional ownership and drive growth.”
Dave Alter, Partner of AV Capital, added, “We are pleased to partner with Chief Executive Officer Billy Blair and Founder Rick Freeman at an important inflection point in the company’s history, and to provide strategic and financial resources in support of management’s vision for expanding AIG across the Southeast U.S.”
Raymond James advised AIG on the transaction.